The British Chambers of Commerce (BCC) has stated that the while the UK economy is weak it is showing signs of recovery in the first three months of 2012. While the UK economy is still facing a massive challenge to avoid recession the news from the BCC comes as some positive news for Sterling exchange rates and this morning we have seen Sterling strengthen further against the Euro (EUR) and the Dollar (USD). The BCC did mention in their report that they expect the economy to grow by 0.3% in the first quarter of the year which would mean we avoid recession and so when Gross Domestic Product (GDP) figures are released we could see a further boost to Sterling exchange rates.
If you are looking to transfer money abroad and want to time your transfer to achieve the best possible exchange rate speak to one of our currency brokers today so we can discuss your foreign currency requirements and the options available to you.
Last night in Australia the Reserve Bank of Australia (RBA) kept interest rates on hold at 4.25% but in the post meeting statement the RBA hinted that they may cut interest rates next month which has led to Sterling spiking up against the Aussie Dollar and therefore presenting some excellent buying opportunities. If you need to exchange Pounds to Australian Dollars (AUD) contact us today on 0800 328 5884 or email firstname.lastname@example.org.